BITSTAMP:XRPUSD   XRP / U.S. Dollar
XRP continues lateral movements to within the larger downtrend.

The 18 and 12 hour MACD are showing signs of convergence that indicate a downturn is possible.

The Fib retracement placed on the new low and the last high show that XRP reacted normally with a . 786 retracement to rebound to .50. It is possible that a .382 rebound can occur.

In order for me to consider a breakout, XRP must sustain a level greater than 1.05 for a 30 day period.

With that said, XRP continues to be a good proposition for long term accumulations.

I have small buys at present prices with larger buys set in the .40 ranges.

I believe that XRP will retest the lows at
the range of .39 and .45 one more time this month.

I do expect a bull run in July to test the 1.18 due to increased demand of BTC with new larger trading platforms and funds.

My expectation is due to a non related event that occurred with REGI in May resulting from a higher exposure to a select market in the S&P .
Comment: 18 hour look

Comment: 18 hour look with converging MACD
Comment: 12 hour look wit converging MACD to downside
Comment: Better look at 12 hour with better reference to MACD
Comment: This assessment has not changed
Comment: On the lower 12 hour chart, XRP has crossed the PSAR, MACD convergence is nearly closed and Bollinger B is turning to the lower. These are indicators that a possible short is in order.
Comment: This assessment holds true as XRP continues small down pressure
Comment: This update is very active and I am paying close attention
Comment: Ok, so now we have a clear direction and continuation of the downtrend. Short term looks are calling a double bottom. However, I am not. A double bottom will occur at the low of .45 ish. I expect this to happen now. I have set my buy at that level for DCA.

It is interesting to note that my very first comment to this chart is dead on. I expect a range of .39 to .45 before another uptick.

XRP is still in bearish trend.
Comment: Also, note that .23 is now on the table as a new low based on a fib retracement in the original chart.
Comment:

Also, I use the term double bottom in conjunction with a charted Low. Thus, in my terms, a true double bottom will form at .45 range.
Comment: A better Snapshot to review.

Comment: This is still working to the lower. We are a fib .886 support level. I have not changed my assessment.

Comment: This continues to hold true to my original assessment.
Comment: This assesment is completed. I am preparing for a now low at .31
Comment: New Low .31
I do not think so at this stage... let’s see.
Reply
I am seeing indications on the daily chart of reversal at this level... forming a double bottom. A rise above 0.61 would validate a bullish move IMHO. I have been watching the LOI charts and there is very strong support here... sellers got exhausted and now were rising for the 2nd day in a row. From a daily perspective this doesn't typically reverse after 2 days.
Reply
I agree with the 1.18 target for July, though my target has been at 1.20. I think 0.30 would suck the energy out of the buyers and it would take an extended amount of time to build up steam to the upside again outside of any major news or Bitcoin playing nice.
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@Exsilium,

Well Said
Reply
Thank You

Very nicely presented
Reply
@omnirealm,

Thank you!
Reply
thanks for sharing
Reply
Thanks, very helpful
Reply
ramonbenavides12 Mohamed_Abbas
@Mohamed_Abbas,

Your welcome!
Reply
Xrp only wants to go up right now. Strengthens in BTC. Outbreak imminent in my opinion, when BTC starts xrp will blow away.
Reply
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